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The Property Podcast
TPP601: Renters’ Rights news: Has property just changed forever?
Sep 19, 2024
A major shift in renters' rights has arrived with significant changes in legislation. No-fault evictions may soon be a thing of the past, and landlords could face new limits on rent increases and bidding wars. An unexpected landlord database is now a requirement, adding another layer of complexity. The discussion also highlights potential challenges for landlords as they adapt to these changes. Is this the turning point for the UK property market? Tune in to discover the implications!
32:23
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Quick takeaways
- The new Renters’ Rights Bill abolishes no-fault evictions, requiring landlords to demonstrate valid reasons for eviction, significantly shifting the tenant-landlord dynamic.
- Landlords can only increase rents annually with two months' notice, which protects tenants from arbitrary hikes but complicates financial planning for landlords.
Deep dives
Introduction of the New Renter's Rights Bill
The podcast highlights significant changes introduced by the new Renter's Rights Bill in the UK, emphasizing that all tenancies will now be open-ended without fixed terms. This means tenants will have more security, as they can only be asked to leave with valid reasons after a notice period of two months. Landlords seeking to sell their properties must wait a year after the tenancy has commenced and provide four months' notice to the tenant before initiating the sale. This shift aims to provide tenants greater assurance regarding their housing situation amidst the evolving property landscape.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode